Transmeridian Exploration Incorporated and its wholly-owned subsidiary Transmeridian Exploration Inc. announced that they have extended the consent payment deadline and expiration time with respect to their exchange offer and concurrent solicitation of consents to amend the indenture governing TMEI’s 12% Senior Secured Notes due 2010 (the “Existing Notes”) (CUSIP Nos.: 89376NAC2, 89376NAA6, 89376NAB4, [...]

Russia’s OAO Gazprom and OAO Lukoil say they discovered a sizable oil and gas field in the Caspian Sea — but just how big, they are not sure.
Dow Jones Newswires quotes an official as saying it could hold up to 730 million barrels of oil.
Gazprom and Lukoil signed a deal in 2003 to develop a [...]

Iran and Switzerland signed an agreement Monday to major exports of Iranian gas to a Swiss company, in a rare energy deal between Tehran and the West in their nuclear tug-of-war drags on.
“Today we have witnessed the signing of a gas contract between the two countries,” Foreign Minister Manouchehr Mottaki announced at a joint press [...]

Statoil, the leading Norwegian oil and gas group, has reported record profits for 2006 owing to high prices for hydrocarbons and despite a fall of production.
Net profit surged by 32.0 percent to 40.615 billion kroner (4.98 billion euros, 6.47 billion dollars) from 30.73 billion kroner in 2005.
Sales rose by 10.0 percent to 423.5 billion euros.
Chief [...]

Brazil’s state-run oil firm Petroleo Brasileiro SA (PBR), or Petrobras, is in talks with Iran to become a service provider in Caspian Sea deep offshore drilling, a company press official said Monday.
State-run National Iranian Oil Co. had shown interest in a cooperation with Petrobras which has a better expertise in deep and very deep offshore [...]

A BP PLC-led consortium resumed production of natural gas at a Caspian Sea field one month after it was halted due to unspecified technical problems, Azerbaijan’s state oil company said Monday.
Gas from the Shah Deniz field — one of Azerbaijan’s largest — has been keenly awaited by both Azerbaijan and neighboring Georgia, both of which [...]

China, which is aggressively seeking overseas energy assets to fuel its booming economy, said Sunday that one of its biggest conglomerates has bought the Kazakhstan oil assets of a Canadian company for $1.91 billion.
China’s CITIC Group bought the oil assets of Canada’s Nations Energy Company Ltd. and granted KazMunaiGas, Kazakhstan’s state-owned oil company, an option [...]

Big Sky Energy Corp. announced that it has commenced drilling of Well No. 18 for the Ogai Field, which is located in its Morskoe Block on the north-eastern shore of the Caspian Sea in Western Kazakhstan. Based on seismic and petrophysical analyses, the company believes that the Ogai structure is a faulted anti-cline that is [...]

Lukoil has sold its 100% share in LUKOIL Shelf Limited and LUKOIL Overseas Orient Limited which owned and operated the Astra jackup to OOO Eurasia Drilling Company.
Transaction price was US$40.3 million.
The Astra is designed for offshore field exploration in the Caspian Sea, and represents a 3-pole platform with the mount height of 66 meters, which [...]

earlach Resources Ltd. (TSX.V: TEA) Following the acquisition of a 60% interest in the Kern Front Oil Field near Bakersfield, California, the company has created an Oil and Gas Exploration
and Development advisory board, and is pleased to announce the following appointees:
DR. H. M. HELMIG
Dr. Helmig is a [...]